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Dragon Mining Finland Update

Dragon Mining Limited is pleased to announce the completion of an update of the Arpola Mineral Resource at the Jokisivu Gold Mine in southern Finland. The updated Mineral Resource estimate of 441,000t @ 6.7 g/t gold for 94,400 ounces was completed internally and audited by independent consultants Runge Limited in Perth, Western Australia. The updated Mineral Resource better depicts the nature of the deposit. A decrease in contained gold from the previous (February 2005) Indicated and Inferred Mineral Resource estimate of 490,000t @ 6.8 g/t gold (106,700 ounces) is a result of a break-up of the interpreted lodes. The Arpola Mineral Resource update follows the completion of an extensive drilling campaign at the Jokisivu Gold Mine, where 83 diamond core holes have been completed (12,316.4 metres) targeting areas along the eastern portion and below the Kujankallio open pit, the area between the Kujankallio and Arpola deposits and the Arpola deposit itself. Overall this campaign has resulted in the total Mineral Resource inventory at the Jokisivu Gold Mine increasing, the contained gold (undepleted) up 9.6% to 356,300 gold ounces, from 325,000 ounces as reported at the end of 2008. The updated Mineral Resource estimate complies with recommendations in the Australasian Code for Reporting of Mineral Resources and Ore Reserves (2004) by the Joint Ore Reserves Committee (JORC). The Mineral Resource was estimated by Inverse Distance grade interpolation, constrained by resource outlines on mineralisation envelopes prepared using a nominal 0.5 g/t gold cut-off with no minimum down hole length. Block dimensions used in the model were 2m NS x 10m EW x 5m vertical with sub-blocks of 0.5m by 2.5m by 1.25m. A high grade cut of 70 g/t was applied to 1m composited data and the resource was classified by JORC Code categories. An internal feasibility study is being completed to determine the viability of developing an underground operation at the Jokisivu Gold Mine. The study is being reviewed and a development that would encompass both the Kujankallio and Arpola deposits should commence in late 2010. Jokisivu Gold Mine The Jokisivu Gold Mine is located 40 kilometres southwest of the Vammala Production Centre and hosts a Measured, Indicated and Inferred Resource totalling 356,300 ounces from two deposits 200 metres apart. The Kujankallio deposit has been shown by drilling to extend to at least 525 metres in depth, though resource drilling currently extends only down to 440 metres, whilst the Arpola deposit has only been drilled down to 200 metres. Both deposits remain open with depth and partially along strike. Open Cut mining of the Kujankallio deposit commenced in 2009 and is scheduled to be completed by the end of 2010. For and on behalf of Dragon Mining Limited Peter G Cordin Executive Chairman